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12/06/2020
1
LTLLegal Technology
Laboratory
Exploring
Computable Contracting
Kansas City CLE, 15 June 2020
LTL
The Legal Technology Laboratory
LTLLegal Technology
Laboratory
LTL Portfolio: Key Technology Areas
LTL
Prototyping
Projects
Automated Document
Creation
Blockchain Enabled
Smart Contracts
Legal Specification
Languages and Legal
Ontology Engineering
Intelligent Legal
Compliance
Legal / Regulatory
Process Reengineering
Data Analytics
12/06/2020
2
LTLLegal Technology
Laboratory
Innovation Landscape for Contracting Technologies
Automated Document
Creation
Blockchain Enabled
Smart Contracts
Legal Specification
Languages and Legal
Ontology Engineering
Data Analytics
Increasing Human Understandability
and Usability of Contracts
TRADITIONAL
CONTRACTS
NATURAL
LANGUAGE,
UNSTRUCTURED
IncreasingComputer
UnderstandabilityofContracts
CONTRACT
STANDARDISATION
AUTOMATED
DOCUMENT
ASSEMBLY
SYSTEMS
COMPUTABLE
CONTRACTS
EASY FOR HUMANS
TO UNDERSTAND
AND GENERATE,
BUILT USING
DOMAIN-SPECIFIC
LANGUAGES
CONTRACT
AUTOMATION
SYSTEMS
CONTRACT LIFECYCLE
MANAGEMENT, AI,
SMART CONTRACTS
LTLLegal Technology
Laboratory
Selected Examples of Contracting Technologies
Increasing Human Understandability
and Usability of Contracts
TRADITIONAL
CONTRACTS
IncreasingComputer
UnderstandabilityofContracts
CONTRACT
STANDARDISATION
COMPUTABLE
CONTRACTS
CONTRACT
AUTOMATION
SYSTEMS
Semi-Automated Contract Assembly (Lawgood)
12/06/2020
3
LTLLegal Technology
Laboratory
Selected Examples of Contracting Technologies
Increasing Human Understandability
and Usability of Contracts
TRADITIONAL
CONTRACTS
IncreasingComputer
UnderstandabilityofContracts
CONTRACT
STANDARDISATION
COMPUTABLE
CONTRACTS
CONTRACT
AUTOMATION
SYSTEMS
Contract Lifecycle Management System (Cobblestone)
LTLLegal Technology
Laboratory
Selected Examples of Contracting Technologies
Increasing Human Understandability
and Usability of Contracts
TRADITIONAL
CONTRACTS
IncreasingComputer
UnderstandabilityofContracts
CONTRACT
STANDARDISATION
COMPUTABLE
CONTRACTS
CONTRACT
AUTOMATION
SYSTEMS
Smart Contracts – Linked Contracts and Code
12/06/2020
4
LTLLegal Technology
Laboratory
Selected Examples of Contracting Technologies
Smart Contract with ‘Graphical’ Interface (Ethereum)
Increasing Human Understandability
and Usability of Contracts
TRADITIONAL
CONTRACTS
IncreasingComputer
UnderstandabilityofContracts
CONTRACT
STANDARDISATION
COMPUTABLE
CONTRACTS
CONTRACT
AUTOMATION
SYSTEMS
LTLLegal Technology
Laboratory
Selected Examples of Contracting Technologies
Increasing Human Understandability
and Usability of Contracts
TRADITIONAL
CONTRACTS
IncreasingComputer
UnderstandabilityofContracts
CONTRACT
STANDARDISATION
COMPUTABLE
CONTRACTS
CONTRACT
AUTOMATION
SYSTEMS
Controlled Natural Language (Lexon)
12/06/2020
5
LTLLegal Technology
Laboratory
Selected Examples of Contracting Technologies
Increasing Human Understandability
and Usability of Contracts
TRADITIONAL
CONTRACTS
IncreasingComputer
UnderstandabilityofContracts
CONTRACT
STANDARDISATION
COMPUTABLE
CONTRACTS
CONTRACT
AUTOMATION
SYSTEMS
Graphical Representation of Contracts (Creative Commons)
LTLLegal Technology
Laboratory
• Contracts of the future will integrate different forms of knowledge
representation:
• high-level languages including ‘controlled natural language’,
• annotated natural language (with metadata and defined fields), and
• graphical interfaces (also for defining legal processes).
• Contract design applications (and wizards) will offer intelligent
guidance for the creation of contracts. Therefore, rather than ‘thinking
like coders’, perhaps it is ‘thinking like designers’ that will describe
key skills for lawyers of the future.
• Computable contracting solutions will emerge as industry-specific
solutions, and teams of law and computer science students could be
engaged to help make these new contracts a reality.
For Discussion

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Legal Technology Laboratory: Exploring Computable Contracts

  • 1. 12/06/2020 1 LTLLegal Technology Laboratory Exploring Computable Contracting Kansas City CLE, 15 June 2020 LTL The Legal Technology Laboratory LTLLegal Technology Laboratory LTL Portfolio: Key Technology Areas LTL Prototyping Projects Automated Document Creation Blockchain Enabled Smart Contracts Legal Specification Languages and Legal Ontology Engineering Intelligent Legal Compliance Legal / Regulatory Process Reengineering Data Analytics
  • 2. 12/06/2020 2 LTLLegal Technology Laboratory Innovation Landscape for Contracting Technologies Automated Document Creation Blockchain Enabled Smart Contracts Legal Specification Languages and Legal Ontology Engineering Data Analytics Increasing Human Understandability and Usability of Contracts TRADITIONAL CONTRACTS NATURAL LANGUAGE, UNSTRUCTURED IncreasingComputer UnderstandabilityofContracts CONTRACT STANDARDISATION AUTOMATED DOCUMENT ASSEMBLY SYSTEMS COMPUTABLE CONTRACTS EASY FOR HUMANS TO UNDERSTAND AND GENERATE, BUILT USING DOMAIN-SPECIFIC LANGUAGES CONTRACT AUTOMATION SYSTEMS CONTRACT LIFECYCLE MANAGEMENT, AI, SMART CONTRACTS LTLLegal Technology Laboratory Selected Examples of Contracting Technologies Increasing Human Understandability and Usability of Contracts TRADITIONAL CONTRACTS IncreasingComputer UnderstandabilityofContracts CONTRACT STANDARDISATION COMPUTABLE CONTRACTS CONTRACT AUTOMATION SYSTEMS Semi-Automated Contract Assembly (Lawgood)
  • 3. 12/06/2020 3 LTLLegal Technology Laboratory Selected Examples of Contracting Technologies Increasing Human Understandability and Usability of Contracts TRADITIONAL CONTRACTS IncreasingComputer UnderstandabilityofContracts CONTRACT STANDARDISATION COMPUTABLE CONTRACTS CONTRACT AUTOMATION SYSTEMS Contract Lifecycle Management System (Cobblestone) LTLLegal Technology Laboratory Selected Examples of Contracting Technologies Increasing Human Understandability and Usability of Contracts TRADITIONAL CONTRACTS IncreasingComputer UnderstandabilityofContracts CONTRACT STANDARDISATION COMPUTABLE CONTRACTS CONTRACT AUTOMATION SYSTEMS Smart Contracts – Linked Contracts and Code
  • 4. 12/06/2020 4 LTLLegal Technology Laboratory Selected Examples of Contracting Technologies Smart Contract with ‘Graphical’ Interface (Ethereum) Increasing Human Understandability and Usability of Contracts TRADITIONAL CONTRACTS IncreasingComputer UnderstandabilityofContracts CONTRACT STANDARDISATION COMPUTABLE CONTRACTS CONTRACT AUTOMATION SYSTEMS LTLLegal Technology Laboratory Selected Examples of Contracting Technologies Increasing Human Understandability and Usability of Contracts TRADITIONAL CONTRACTS IncreasingComputer UnderstandabilityofContracts CONTRACT STANDARDISATION COMPUTABLE CONTRACTS CONTRACT AUTOMATION SYSTEMS Controlled Natural Language (Lexon)
  • 5. 12/06/2020 5 LTLLegal Technology Laboratory Selected Examples of Contracting Technologies Increasing Human Understandability and Usability of Contracts TRADITIONAL CONTRACTS IncreasingComputer UnderstandabilityofContracts CONTRACT STANDARDISATION COMPUTABLE CONTRACTS CONTRACT AUTOMATION SYSTEMS Graphical Representation of Contracts (Creative Commons) LTLLegal Technology Laboratory • Contracts of the future will integrate different forms of knowledge representation: • high-level languages including ‘controlled natural language’, • annotated natural language (with metadata and defined fields), and • graphical interfaces (also for defining legal processes). • Contract design applications (and wizards) will offer intelligent guidance for the creation of contracts. Therefore, rather than ‘thinking like coders’, perhaps it is ‘thinking like designers’ that will describe key skills for lawyers of the future. • Computable contracting solutions will emerge as industry-specific solutions, and teams of law and computer science students could be engaged to help make these new contracts a reality. For Discussion